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Jefferies initiates coverage on AptarGroup (NYSE: ATR) with a Hold rating and a price target of $83.00.

Analyst Philip Ng commented, "ATR is a rare growth stock and one of the highest quality names in the sector, with strong margins and FCF profile. That said, our SOTP analysis suggests the stock is fairly valued even when applying a 30% premium to its best of breed Pharma business. We would be more constructive on a pullback and initiating coverage with a Hold rating."

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